Cable hits session highs, reaches levels last seen on September 2017

Author: Justin Low | Category: News

With all the euphoria surrounding the move in EUR/USD, cable is also jumping higher on the day

The dollar is just not catching a break. Cable is now at 1.3620, levels only seen on last September as it takes out the 3 January high of 1.3613.

This opens up a move to test the 2017 high of 1.3657. Although the sterling sentiment in recent days has not been too positive, it still appears that the GBP is managing to find a leg higher on the back of dollar weakness.

Will this be the second pair to see a break above the 2017 highs after the EUR/USD did so earlier?

In other pairs, USD/JPY falls to a session low of 111.00 on the day as well.